General

Being an Indian, you too like me wish that one dollar becomes equal to one rupee because if this happens then things will become very cheap for us like iPhone of 700 rupees and many branded things which are very cheap but why does it not happen that $1 becomes equal to one rupee, so let’s see some of its main reasons.

Trade

As we know that India is not a developed country but a developing country which is on the way to development but is not developed, so we have to depend on other countries for many things.

And we trade with other countries like Chinese tea and there are many such things which we trade with other countries, now if the price of one rupee is made equal to $1, then whichever country buys from us, then the goods will become very expensive for them, like both India and Sri Lanka trade tea, for example, if the price of 1 kg tea is 100 rupees, then the other countries which buy tea will have to pay $100 to buy tea from India because $1 is .1rs. And in Sri Lanka, he can get 1 kg for just $2, so why would he buy from us? In such a situation, our business will stop.

Foreign Investment

Foreign investment is a big reason for this because many foreign companies come and invest in India because in India, the labor cost is very cheap for them, the manufacturing cost is very cheap and they also get a very big market to sell.

In such a situation, if the value of $1 becomes 1 Rs, then the labor cost for the foreign investment companies that come and invest in India will become very expensive and the maintenance cost will become very expensive because where their work used to get done in $200, now they will have to pay from $6000 to $10000, in such a situation they will not get any benefit, so they will not like to invest here because they have a loss by investing here, apart from this, there can be many reasons due to which $1 cannot be made ₹1 until we are fully developed.

Rupa is a Sanskrit word. Which means that the silver coin, which we make a knock-on peat. the bar-tar system was run in Indian Valley Civilization. Bar-tar system means to take another thing in exchange for anything. As if we have more rice and we also need wheat, then we can take some wheat for the second instead of some of our rice.

                       But in the year 1540, the Sher Shah launched Rupai for the first time. In which 1 rupee means 1 silver coin which was equal to 178 wheat grains But after the first World War, silver and gold prices increased, then the British government denominated the Indian rupee.

 In which now 1 rupee means 16 aana, which was equal to 64 paise. all these copper were made of nickel. But after 1961 only the rupee was made official under the INDIAN COINAGE ACT. Now 1 rupee has been equal to 100 paise, and from July 15, 2010, we changed the symbol of rupees.

Apart from India, the rupee is the currency of many countries, but there is some difference between there rupee and Indian rupee Even then, the currency of Dubai and Qatar was also Rupees, after 1959, they had converted it to Riyal.